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Bounded rationality in Keynesian beauty contests : a lesson for central bankers?
Mauersberger, Felix; Nagel, Rosemarie; Bühren, Christoph - 2019
The goal of this paper is to show how adding behavioral components to micro-foundated models of macroeconomics may contribute to a better understanding of real world phenomena. The authors introduce the reader to variations of the Keynesian Beauty Contest (Keynes, The General Theory of...
Persistent link: https://www.econbiz.de/10012120039
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On two recent attempts to introduce animal spirits in macroeconomics : heresy or enlightened church reform?
Togati, Teodoro Dario - In: PSL quarterly review 74 (2021) 296, pp. 51-73
As noted by Alan Greenspan in 2008, one key flaw in standard models is that they treat animal spirits as a simple 'add factor' rather than as a structural one. This paper evaluates the extent to which two recent approaches placing the emphasis on animal spirits - namely Farmer's...
Persistent link: https://www.econbiz.de/10013175039
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Effects of the taxation on inheritance in a microfounded model of growth and post-Keynesian distribution with overlapping generations and life cycle
Sugahara, Renato Nozaki; Aragón, Edilean Kleber da … - In: Economia : revista da ANPEC 17 (2016) 3, pp. 340-350
This paper extends the model of overlapping generations with heterogeneous agents, allowing both classes (capitalist and worker) to hold a positive intergenerational capital stock. The main results were:(i)equilibrium interest rates that maximize the consumption and savings plans of working and...
Persistent link: https://www.econbiz.de/10011865768
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Do inflation expectations matter for small, open economies? : empirical evidence from the Solomon Islands
Rohoia, Angeline B.; Sharma, Parmendra - In: Journal of risk and financial management : JRFM 14 (2021) 9, pp. 1-18
This paper examines the role of inflation expectations in Solomon Islands, a Pacific Island Country, using the Hybrid New Keynesian Phillips Curve model. The study applies the Generalized Method of Moments to estimate the Hybrid New Keynesian Philips Curve model using quarterly time series data...
Persistent link: https://www.econbiz.de/10012628568
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From export boom to private debt bubble : a macroeconomic policy regime assessment of Canada's shifting growth regime
Klassen, Theodore - In: European journal of economics and economic policies : … 21 (2024) 1, pp. 73-89
This paper examines the emergence of private debt-led growth in Canada since the Global Financial Crisis (GFC) by means of a growth regime and macroeconomic policy regime assessment. Examining each of the four business cycles in the 1983-2020 period, roughly encompassing the entirety of the...
Persistent link: https://www.econbiz.de/10014516158
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Macroeconomic policy regimes and demand and growth regimes in emerging market economies : the case of Argentina
Ianni, Juan Martín - In: European journal of economics and economic policies : … 21 (2024) 1, pp. 90-112
Demand and growth regimes (DGR) and macroeconomic policy regimes (MPR) frameworks have assumed prominence within the post-Keynesian literature. However, most studies based on these conceptual frameworks have focused on developed economies. The main contribution of this paper is to provide a...
Persistent link: https://www.econbiz.de/10014516160
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Car usage, CO2 emissions and fuel taxes in Europe
Marrero, Gustavo A.; Rodríguez López, Jesús; … - In: SERIEs : Journal of the Spanish Economic Association 11 (2020) 2, pp. 203-241
The number of diesel cars in Europe has grown significantly over the last three decades, a process usually known as …
Persistent link: https://www.econbiz.de/10012240622
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Finanzpolitische Zeitenwende : das Fundamentfür Wachstum schaffen
Lindner, Christian - In: Wirtschaftsdienst : Zeitschrift für Wirtschaftspolitik 103 (2023) 8, pp. 530-538
In this article, German Finance Minister Christian Lindner places the government's draft of the 2024 federal budget and … expenditure in the federal budget. Action is being takento raise savings potentials and to curb expenditure trends. However, in … order to ensure that the federal budget's composition and priorities are rigorously tar-geted towards future-oriented tasks …
Persistent link: https://www.econbiz.de/10014336584
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Comparing COVID-19 budgeting responses : new budgeting principles that resulted from the pandemic
Espolov, Tlektes; Espolov, Aidos; Aitkozhina, Dariga; … - In: Comparative economic research : Central and Eastern Europe 26 (2023) 4, pp. 7-25
This study provides a comparative analysis of the budget limits of the Commonwealth of Independent States members … approach to budget management using data on the actual economic situation and adaptability to changes. The proposed budget … the budget management system and the detailing of budgetary policies to identify and reflect the political priorities of …
Persistent link: https://www.econbiz.de/10014529542
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The influence of global financial liquidity on the Indonesian economy : dynamic analysis with threshold VAR
Ekananda, Mahjus; Suryanto, Tulus - In: Economies : open access journal 9 (2021) 4, pp. 1-20
Empirical studies of the global liquidity spillover on Indonesia's economy are still relatively limited. Most of the … inflation, trade flows, capital inflow, capital account transactions, reserve accumulation, global liquidity (e.g., global broad …
Persistent link: https://www.econbiz.de/10012799838